Fedex Corp Stock Price, News & Analysis

FedEx Corp. (NYSE: FDX) has received five electric Light Commercial Vehicles (eLCVs) from General Motors' BrightDrop, part of an order of 500. This marks a significant milestone in FedEx's mission to achieve carbon neutrality in global operations by 2040. FedEx plans for 50% of its global pickup and delivery vehicle purchases to be electric by 2025, increasing to 100% by 2030. The EV600 vehicles have an estimated range of 250 miles and over 600 cubic feet of cargo space. FedEx is also building charging infrastructure to support this transition.

FedEx Corp. (NYSE: FDX) reported a strong financial performance for the quarter ending November 30, with an operating income of $1.6 billion, up 9% year over year, and a net income of $1.04 billion. The company announced a new $5 billion share repurchase program, including a $1.5 billion accelerated share repurchase. Key metrics include revenue of $23.5 billion and a diluted EPS of $3.88. While operating results improved, challenges remain due to labor market issues that increased costs by an estimated $470 million.

FedEx Express has completed a $72.2 million expansion at Miami International Airport, enhancing air cargo capacity significantly. The project adds over 138,000 square feet to the main sort facility, bringing the total to 282,000 square feet. Key features include the largest cold chain facility in the FedEx network and an expanded customs clearance area. This expansion aims to boost operations in South Florida and Latin America, creating hundreds of new jobs and improving services during the holiday season, thereby meeting the increasing demand for e-commerce.

FedEx Corporation (NYSE: FDX) appointed Fred Perpall to its Board of Directors and its Audit and Nominating & Governance Committees. The Board's chairman, Frederick W. Smith, lauded Perpall's leadership and business acumen as significant assets for the company. Currently, Perpall is the CEO of The Beck Group, a leading design-build firm. He holds a bachelor’s and master’s degree from the University of Texas at Arlington and is recognized in the American Institute of Architects College of Fellows.

FedEx Freight is partnering with the Christmas SPIRIT Foundation to support military families this holiday season by delivering Christmas trees through the Trees for Troops program. Since 2005, they have distributed over 260,000 trees and will deliver to 77 military bases this year. The program starts on Nov. 29, involving tree farms from 24 states. New this year, the public can donate trees by purchasing them at participating locations by Dec. 5. FedEx Freight continues its commitment to community engagement via FedEx Cares.

FedEx Corp. (NYSE: FDX) has declared a quarterly cash dividend of $0.75 per share, payable on December 27, 2021, to stockholders of record by the close of business on December 13, 2021. With annual revenue of $87 billion, FedEx provides diverse transportation and e-commerce services, focusing on sustainability and aiming for carbon neutrality by 2040. The company values safety and ethical standards, employing 560,000 individuals worldwide.

The latest FedEx Trade Index reveals that e-commerce has been pivotal for U.S. small businesses during the pandemic. A survey of 1,000 small business leaders shows that 75% view expanding international trade positively, with 45% reporting revenue increases. Additionally, 62% expect their income to rise in the coming year. However, while 82% acknowledge corporate responsibility towards environmental sustainability, only 53% feel the government adequately supports their sustainability efforts. The data was collected by Morning Consult from October 11-14, 2021.

FedEx Logistics has opened a new office in Seoul, South Korea, enhancing its global operations and logistics solutions. This expansion aims to provide customizable services for international trade, benefiting both global and Korean customers. The new office offers a variety of services, including international air and ocean cargo, customs brokerage, and trade solutions. With this move, FedEx strengthens its position in a key market, aligning with its growth strategy to capture opportunities in high-potential economies and improve service levels.

FedEx Corp. (NYSE: FDX) released a report detailing its significant economic impact, totaling nearly $70 billion on the U.S. economy. The study, in collaboration with Dun & Bradstreet (NYSE: DNB), highlights FedEx's role in supporting approximately $8 billion in economic activity through the transportation sector, while employing over 375,000 team members in the U.S. Notably, despite the pandemic's challenges, FedEx achieved a 9.4 percent increase in employment and supported an additional 400,000 jobs indirectly, contributing to economic stability and growth.